Has the Blockchain now arrived in reality?

Blockchain and virtual currencies are still words which seem a bit suspect to some consumers. After all, these are terms from the field of crypto currency, a relatively young field in the financial industry. But with it, much more is possible than just managing digital currencies.

What can Blockchain technology do?
Government contracts in Japan are to be administered via blockchain
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The business model
The Blockchain can therefore be explained as a possibility for various applications.

What can Bitcoin Trader technology do?

The blockchain is a database that is protected against manipulation by the fact manipulation by Bitcoin Trader that each data record is cryptographically linked to the subsequent data record. Blockchain applications therefore go far beyond the use of crypto currencies. Blockchain examples can be found in almost all distributed systems, whereby the security of transactions is improved and simplified in comparison to a central system. Various options are already being tested in everyday life or are to be tried out in the near future. Especially for the banking business, the blockchain has an immense innovative potential. However, Dr. Patrick Pohl, Managing Director of Deutsche Bank and Head of Products for Medium-Sized Businesses at Deutsche Bank, also finds warning words and slows down the euphoria: Not everything that this modern database technology promises can be realistically implemented. Nevertheless, various blockchain projects are already underway worldwide.
Government contracts to be managed in Japan via blockchain
As the Japanese Foreign Ministry announced in the summer of 2017, the technology of the blockchain in the Far East is to be integrated into state administration: From April 2018, the test phase for a management system based on a blockchain that is to be used to manage government tenders will begin. This will enable the authorities to exchange the data of the commissioned companies with each other. Japan awards contracts with a total volume of around 600 billion US dollars every year. This value corresponds to 38.3 percent of all public spending, or 16.2 percent of the gross domestic product. The Far Eastern economic power hopes for a better interface between the public administration and private companies through the special mode of operation.

Bitcoin Profit focus on coin development

NEM Coin – Who is behind the crypto currency?
The NEM Coin development was started by a user of the Bitcointalk platform, about whom nothing else is known except his nickname “utopianfuture”. A small team of developers has gathered around him, which has grown to around 70 men to date. Although anyone can basically participate in the development of the crypto currency, the team seems to be largely recruited from Asia, especially Japan. For the team it is not so much about the personalities behind NEM, they rather focus on coin development.

Bitcoin Profit – Advantages and Disadvantages

The number of coins is fixed on the almost 9 billion XEMS. This prevents the crypto currency from inflation. Digging XEM can provide a consistent return, where not only the XEMs jump out, but also the increasing reputation brings some advantages. At NEM, mining is called “harvesting”. To start harvesting you need at least 10,000 XEM. There is a lot of potential in the software and many of the technologies are among the most advanced that can be found in the field of crypto currencies. The software does not require any third-party vendors, so programs developed on the blockchain can be used on a wide variety but Bitcoin Profit has lot of potential of devices. NE/M is therefore extremely flexible. The blockchain is designed for the use of thin clients. This type of software is particularly slim and user-friendly. Whether on smartphones, PCs or minicomputers, thin clients run everywhere.

One disadvantage is that N/EM is still in early development. The infrastructure is still very young, important elements such as the nanoWallet were not only made available recently. It is not yet possible to say whether the development will be as the team imagines it to be.

For a long time, the price was at an unobservable value, a state that the crypto currency shared with many other old coins. In 2016, the price was often at 0.01 euros. In the course of the year, the share price increased slightly in places, but never exceeded 5 cents.

A turnaround came in 2017, and in March, like many other crypto currencies, the exchange rate picked up speed at the same time. In May, XEM reached 10 cents per coin for the first time, only to jump up to 20 cents within a few days. After that, the price fell back to 10 cents. As before, the price was similar to other crypto currencies during the same period. In September 2017, the crypto currency was extremely volatile. It could reach up to 25 cents per coin, but the price fluctuated again and again into the depth.
The coin remained in this segment for the next few months. In December, however, the share price made a leap upwards: Within a month the value of the coin rose to 50 cents and by the end of the month up to 80 cents per coin. At the beginning of the year, the share price again experienced an upward trend and broke through the 1 euro mark. XEM did not stop there, however, but climbed to the value of 1.50 Euro. Slight fluctuations remained, but nevertheless this was the most successful start into a new year for the coin.
For 2018, it can be concluded that the coin appears to have been based on the exchange rates of other crypto currencies. Trends will probably also apply to XEM. However, it has been shown that the coin has a lot of potential and can increase many times over within weeks. So the coin forecast for 2018 looks quite positive when you consider how high the digital currencies have soar in recent months. Even though the value of a coin has not yet reached other values, XEM has experienced a plus of 14,000 % since the start of the crypto currency.

The partnership with Malaysia Digital Economy Corporation could have had an influence on this. This is a government institution that manages digital infrastructure and security. The institution advises the Malaysian government on technology-related laws and mediates high-tech companies. This could lead to Malaysian companies testing NEM and using the coin. Therefore it is worth thinking about buying NEM Coin.

NEM COIN – sustainable economy with POI algorithm

NEM stands for “New Economy Movement”. This is a blockchain that wants to provide a platform dedicated to the goals of this movement. The New Economy Movement wants to establish a just and sustainable economic order.

Social media and free trade should be able to take place on the decentralized platform. The focus is on financial freedom, equal opportunities and self-determination. The actual coin used for this blockchain is called XEM.

NEM Coin – What is this crypto currency?

The NEM coin, also known as XEM, is the crypto currency to be used within the NEM platform. A total of 8,999,999,999 XEMs are already in circulation. At the heart of Coin’s development is the NEM platform, which will be able to offer a wide variety of innovative solutions for a whole range of applications. XEM is to be used for various operations on the blockchain. In addition, there are no fees for the transactions in the form of some XEM. The focus is on Internet trading, secure and anonymous transmission of messages, personal finances and automation processes for the office.
The team is primarily concerned with safety and reliability. The blockchain provides the basis for the platform. This is basically the software behind the crypto currencies. This works decentralized and is distributed to all computers participating in the network. The platform, called NEM Infrastructure Server, should also be decentralized and enable other programmers to develop software based on the blockchain and to offer a decentralized trading platform.

One of the most outstanding elements of the coin is the proof-of-importance process. The importance of each account is determined by an algorithm. The account must have XEM. The importance results not only from the financial capacity of the account, but also from the reliability and frequency of the account holder’s activities. This evaluation mechanism should influence the interaction within the network. And helps mining the coins. The higher a user’s reputation, the more XEM the user digs. This should ensure that not only users with a high credit balance benefit from the crypto currency. It should provide an incentive to actually use the coins. In addition, this procedure is intended to prevent tendencies towards centralisation and to dampen price fluctuations. This should also ensure that there is always enough XEM in circulation.

The reputation mechanism “Eigentrust++” regulates how trustworthy the nodes of the network are. These nodes are used for communication. If a node is not trustful, no communication takes place via it. At the same time, an anti-spam function is integrated. Another function for which the crypto currency can be used is the Smart Asset.

Smart assets are digital assets that can be shares, currencies, assets, identity cards, patents and much more. The “multi-signature solution” is another independent feature of the coin. This allows payments to be linked to contractual conditions. For example, a payment is not executed until a certain number of signatories have agreed to it. Multi-signature solutions are suitable for companies and communities pursuing a common project. You can use it to control a disbursement exactly.